Future Market Insights
A refuse compactor commonly known as garbage or trash compactors are modern day machines for collection and compression of garbage, which in turn helps in reducing waste volume and offers high saving on waste disposal. Refuse compactors offers several benefits such as it enables to spillage of waste, and allows much higher amount of waste to get stuffed, thus saving significantly on fuel, as this reduces the number of round trips. Also, as it compacts the waste significantly, the landfill volume required reduces, saving a large share of municipalities’ money. The waste collected through these compactors are pushed out of the container through a hydraulic mechanism. Most companies under refuse compactor landscape offers a variegated range of products, depending upon size and needs.
The global refuse compactor market is expected to expand with an impressive growth rate over the forecast period.
Refuse CompactorMarket: Drivers & Restraints
The prime factor driving the demand in the global refuse compactor market is the municipalities need to reduce the waste volume and lack of landfill volume. Further, as this offers an added advantage for households and enterprises by reducing the volume, enabling them to save significantly on their waste disposal costs. This has led to wide scale adoption for refuse compactors across most municipalities in developed nations and is expected to further gain increasing traction over the forecast period. As diseases due to open waste collectors rises, and population become more aware regarding the benefits of deploying refuse compactor, the demand in the global refuse compactor market is anticipated to continuously rise over the forecast period.
However, as most refuse compactors hold the waste for a longer time compared to conventional systems, it’s very often to generate unhealthy odors, which is restricting the demand in the global refuse compactors market.
Refuse CompactorMarket: Market Segmentation
The Refuse Compactor Market is segmented into three parts based on product type and application:
Based on product type, the Refuse Compactor market is segmented into:
Based on application, the Refuse Compactor market is segmented into:
Refuse Compactor Market: Regional Outlook
Geographically, Refuse Compactor market has been categorized into seven key regions including North America, Western Europe, Eastern Europe, APEJ, Japan, Latin America, and the Middle East & Africa.North America is expected to be the global leader in terms of demand for refuse compactor, primarily because of high awareness in the region’s population and municipality regarding the product. Further, as the region offers the highest waste disposable costs, the region is witnessing high traction for demand for refuse compactors. Western Europe is also a prominent region in terms of potent demand for refuse compactors, primarily because of increasing need for waste disposable management solutions in the region. Moreover, the region caters some of the most prominent waste solution provider companies, offering private trash compaction machines to enterprise. The Asia Pacific Exc. Japan (APEJ) region is among the fastest growing region considering the demand for refuse compactors. Most countries in the APEJ region are massively increasing their spending on waste management solutions, which would definitely fuel more demand for refuse compressors. With lack of landfill sites in the region compared to waste generated by massive countries such as India and China, compressing waste is must. In the Middle East and Africa (MEA) region, GCC countries such as UAE, Qatar, Oman, Kuwait, and KSA beholds a decent waste management solution, but refuse compactors are still not in sufficient quantity, Thus, the demand in the Middle East and Africa (MEA) refuse compactor market is bound to increase. Further, Latin America and Eastern Europe are also a booming market for refuse compactors, with rising waste amount and awareness. Japan is also a prominent market for refuse compactors with the region holding a significant share of the global refuse compactors market.
Refuse Compactor Market: Key Players
Some of the players identified in Global Refuse Compactor market are:-
ACE Equipment Company
Compactor Management Company (CMC)
Precision Machinery Systems
MK Tech Industries
Medj India Enterprises
Genesis Waste Handling Private Limited
Zhengzhou Treasure Trading Co. Ltd
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